More than half of a portfolio of mortgages being sold by the liquidators of IBRC have bought by two US funds; Lone Star and Oaktree Capital.
In a statement the liquidators, KPMG said that the buyers had agreed to follow the code of conduct on mortgage arrears.
The unsold mortgages are expected to transfer to NAMA.
The mortgages holders have been protesting about the sale of their loans and argued they should have an opportunity to bid for their borrowings. But that was ruled out by the liquidators.
The liquidators said they will now begin communicating with mortgage holders immediately to inform them of the outcome of the sale process.
It has been speculated that the loans would be sold at a discount but the liquidators, Eamonn Richardson and Kieran Wallace of KPMG, have not revealed any figures.
The liquidators said 64% of the loans by value had been purchased by Lone Star and Oaktree Capital.
The liquidators also said 85% of the largest portfolio of €9.3bn of commercial loans had been sold to Deutsche Bank, Lone Star, CarVal Investors and Goldman Sachs.
The announcement means €19.8bn of loans out of a total book of €21.7bn have been sold.
The liquidators said the sales process had "delivered a very positive result with over 90% of IBRC's loan assets now sold within 14 months of the Bank's liquidation."
The added: "The response of markets to the liquidation and sales process has exceeded our expectations."
Minister for Finance Michael Noonan welcomed the announcement and said the sale marked a “hugely successful outcome” for IBRC’s special liquidators.
“These successful sales to third parties are finally breaking the link between Anglo Irish Bank and the Irish taxpayer,” Mr Noonan said in a statement.
“The success of the liquidation ensures that no further calls will be made on the taxpayer over those already budgeted.”
Pepper appointed to manage Lone Star mortgages
Australian firm Pepper Asset Servicing has been appointed to service the mortgages acquired by Lone Star following their transfer from IBRC.
The firm, which entered the Irish market in 2012 and employs more than 150 people in Shannon and Dublin, said it expected to begin its management of the ‘Project Sand’ loans from early August 2014.
It said it would contact each borrower immediately following the hand-over.
Pepper said it would service the loans in full compliance with Central Bank requirements, in particular its Code of Conduct on Mortgage Arrears.